Economic systems seek to answer what key economic questions select all that apply. how should goods and services be produced? where goods and services will be produced? when goods and services will be produced? what goods and services will be produced? who will consume goods and services? next question ask for

Suppose the price of frozen yogurt, a substitute for ice cream, increases. what happens to equilibrium price and quantity of ice cream? a. the price and quantity of ice cream both increase b. the price and quantity of ice cream both decrease c. the price of ice cream increases and the quantity decreases d. the price of ice cream decreases and the quantity increases

Oliver's company is planning the launch of their hybrid cars. the company has included "never-before-seen" product benefits in the hybrid cars. which type of advertising should oliver's company use for the new cars?

Thomas kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. thomas's fastest-moving inventory item has a demand of 6,000 units per year. the cost of each unit is $100, and the inventory carrying cost is $10 per unit per year. the average ordering cost is $30 per order. it takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (this is a corporate operation, and the are 250 working days per year.)a) what is the eoq? b) what is the average inventory if the eoq is used? c) what is the optimal number of orders per year? d) what is the optimal number of days in between any two orders? e) what is the annual cost of ordering and holding inventory? f) what is the total annual inventory cost, including cost of the 6,000 units?